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August 12th 2016 Newsletter

Futures Trading Exit and Entry Strategies Cotton Futures Suffer Set back

August 12th 2016 - Issue #840

In This Issue

1. Trading 102: Entry & Exit Strategies
2. Hot Market Report: Cotton Suffers Serious Setback
3. Economic Calendar

1. Jim Wyckoff Discusses Entry & Exit Strategies

From our friend Jim Wyckoff

I have received several email messages from my readers asking about how to best determine entry and exit strategies when trading markets. Here are just a few of their quotes:

  • "Though my success rate has been high, I am only breaking even financially, due to getting out too early in profit and letting my losses run too far."

  • "Many articles are written showing when and where to enter trades... but how many articles are written about "running" positions? Where to exit surely has to be the biggest key to trading success!"

  • "I would appreciate some advice or tips on how to and when to enter a market and when to exit."

Of course, if a trader knew exactly when to get into a market and when to get out, wouldn't trading be easy! But even the most successful traders in the world can't do that. The best they can strive for is to catch a bigger part of any move (trend) in the market, and then get out with a good profit before the market turns against them.

I've written past articles on trading with the trend and not against it, on the perils of trying to pick tops and bottoms, on support and resistance, and on letting profits run and cutting losses short, as well as trading the "breakouts." I won't repeat all those trading tenets here, but if you've missed some of my articles, drop me an email and I can attach some of them in an email to you.

In this article, I'll get more specific on entries and exits, and what to do if you are in a trade and are accumulating profits or absorbing losses.

First of all, if you are in a trade, you should already have a general plan of action in place, including potential entry and exit points, before you entered the trade. Certainly, you can alter your plan of action in the heat of battle, but you should not enter any trade without having a well-thought-out trading plan. Also in your trading plan you can have a few scenarios that could occur and what you would do if they did occur.

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2. Hot Market: Cotton Suffers Serious Setback

From our friend Jim Wyckoff at JimWyckoff.com

Click on image below to enlarge

cotton futures; The cotton futures market has seen strong selling pressure, to suggest that a market top is now in place. Bulls will have to push and close prices back above strong chart resistance at 74.00 cents to regain enough power to suggest the price uptrend can be restarted

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
08/12
Fri
7:30 AM CDT - Core PPI & PPI(Jul)
7:30 AM CDT - Retail Sales(Jul)
7:30 AM CDT - Retail Sales Ex-Auto(Jul)
9:00 AM CDT - Business Inventories(Jun)
9:00 AM CDT - Mich Sentiment(Aug)
11:00 AM CDT - WASDE Report & Crop Production
LT: Aug Lean Hogs(CME)
Aug Soybeans(CBT)
Aug Soymeal(CBT)
Aug Soyoil(CBT)
Aug Lean Hogs Options(CME)
Sep Coffee Options(ICE)
08/15
Mon
7:30 AM CDT - Empire Manufacturing(Aug)
9:00 AM CDT - NAHB Housing Market Index(Aug)
11:00 AM CDT - NOPA Crush
3:00 PM CDT - Net Long-Term TIC Flows(Jun)
LT: Aug Eurodollar(CME)
Aug Mx Peso(CME)
Aug Eurodollar Options(CME)
Sep Sugar-11 Options(ICE)
08/16
Tue
7:30 AM CDT - Building Permits & Housing Starts(Jul)
7:30 AM CDT - Core CPI & CPI(Jul)
8:15 AM CDT - Capacity Util & Industrial Prod(Jul)
 

 
 
 
08/17
Wed
6:00 AM CDT - MBA Mortgage Index
9:30 AM CDT - API & DOE Energy Stats
1:00 PM CDT - FOMC Minutes
2:00 PM CDT - Dairy Products Sales
LT: Sep Crude Lt Options(NYM)
Sep Platinum Options(NYM)
Sep Palladium Options(NYM)
08/18
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Philadelphia Fed(Aug)
9:00 AM CDT - Leading Indicators(Jul)
9:30 AM CDT - EIA Gas Storage
3:30 PM CDT - Money Supply
FN: Sep Cocoa(ICE)
 
 
 
08/19
Fri
2:00 PM CDT - Cattle On Feed
2:00 PM CDT - Milk Production
 
 
LT: Aug Nikkei Options(CME)
Aug E-Mini Dow Options(CME)
Aug E-Mini S&P 500 Options(CME)
Aug E-Mini NASDAQ Options(CME)
Aug Russell Options(CME)
Aug S&P 500 Options(CME)
Sep Cotton Options(NYM)
Sep Orange Juice Options(ICE)

08/22
Mon
2:00 PM CDT - Cold Storage
 
 
 
LT: Sep Crude Lt(NYM)
 
 
 
08/23
Tue
9:00 AM CDT - New Home Sales(Jul)
 
 
 
FN: Sep Coffee(ICE)
 
 
 
08/24
Wed
6:00 AM CDT - MBA Mortgage Index
8:00 AM CDT - FHFA Housing Price Index(Jun)
9:00 AM CDT - Existing Home Sales(Jul)
9:30 AM CDT - API & DOE Energy Stats
2:00 PM CDT - Dairy Products Sales
FN: Sep Crude Lt(NYM)
 
 
 
08/25
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Durable Orders(Jul)
7:30 AM CDT - Durable Orders Ex-Transportation(Jul)
9:30 AM CDT - EIA Gas Storage
3:30 PM CDT - Money Supply
LT: Aug Feeder Cattle(CME)
Aug Feeder Cattle Options(CME)
Sep Copper Options(CMX)
Sep Gold Options(CMX)
Sep Silver Options(CMX)
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.

** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!

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